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Income Plan from Zimele Guaranteed Pension

If you have attained the retirement age of at least 50 years old, you are entitled to receive a lump sum of up to Ksh.600,000 from your pension benefits, free of income tax.

The Income Plan enables you to structure a monthly income from your pension benefits.

How Does It Work?

This plan invests your pension income in secure financial assets like treasury bills and bonds, and pays you an income every month (or any other period you choose) from the returns.

First, you need to build your pension savings in the accumulation phase. You do this through the Zimele Guaranteed Pension Plan. Once you are at least 50 years, you can start the Guaranteed Income Plan with the savings you have accumulated.

The minimum period for the Income Plan is 10 years, and is automatically renewed if you don’t opt out. The benefit of this plan is that your pension savings (the principal amount) remains intact for the entire duration, what is paid to you is the interest earned. In simple terms, you will be eating the fruits, not the seeds. In the unfortunate event of a member’s death, the beneficiaries will get the full amount.

Members can top up their account, which increases your income in subsequent months.

Enter your Pension Savings below and see how much you would earn every month.

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How Do You Join?

Members of the Zimele Guaranteed Pension Plan can opt to start receiving a monthly income from their pension savings if they are at least 50 years old. All they have to do is fill the form below to get started.

Modes of withdrawal
1. Bank payments are done either through electronic funds transfer (EFT) or real time gross settlement (RTGS)

  • RTGS payments are for sums of one million shillings and above.
  • EFT payments are for sums that are one million shillings and below.

2. Funds are also sent via mobile money transfer (M-Pesa) up to a maximum of Ksh.70,000.
3. Processing of withdrawals takes three working days
N.B.
Standard rates charged by the banks and the M-Pesa service subscriber will apply.

If you have pension benefits elsewhere and would like to join our plan, please open an account in the Zimele Guaranteed Pension Plan below and transfer your pension benefits.

TERMS AND CONDITIONS
1. The minimum investment amount is Kshs. 100/=
2. Withdrawals are processed within one week and payments are wired directly to members’ bank accounts.
3. A member may liquidate part or all of their investment.
4. Inter-fund transfers are allowed subject to administration fees, where applicable.
5. Any inter-fund transfer must be in writing, dated and signed by the holder of the account.
6. Members placing standing orders must fill in the standing order form and attach a copy of the instructions given to their bank.
7. There are no withdrawals fees, penalties or hidden charges
8. Funds sent via mobile money transfer services will attract standard charges levied by the respective service providers.
RETURNS ON YOUR INVESTMENTS
1. Investment returns in the Balanced Fund are not guaranteed. Always remember that the value of your investment can rise or fall and that you may not get back the full amount you had invested, depending on prevailing market conditions. Past performance is not an indicator of future performance. The Balanced Fund should therefore be considered as a medium to long term investment.
2. The principal amount in the Money Market Fund is not subject to fluctuations during the period of investment. Interest in the Money Market Fund is earned on a monthly basis and will vary from time to time based on conditions prevailing in the money market.
DECLARATION
I confirm that the record provided to establish our identity is accurate. I hereby declare that all of the monies I invest in the Zimele Unit Trust Funds, whether periodically or as a one-off contribution are from a legitimate source, and not from the proceeds of crime, money laundering or other illicit activities. Furthermore, we accept that should there be any justifiable suspicion as to the possibility that we, or another party acting on our behalf, may have engaged or been a participant in money laundering and related offences as outlined in the Proceeds of Crime and Anti-Money Laundering Act 2009, we shall absolve Zimele of any liability and assist the relevant authority with investigations on the same.
I have read and fully understood the contents of this document. I have accepted and complied with the terms and conditions as amended in so far as this application may affect our investments. I indemnify the Trustees, Fund Manager and Custodian of the funds against any contravention of these terms and conditions caused by my failure to comply with any provision thereof.

Note: The Income (Drawdown) Plan is a fund within the Zimele Guaranteed Personal Pension Plan, which is licensed and regulated by the Retirement Benefits Authority (RBA).

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